Watch out Tata Nano! Another under 3000 USD car coming
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PARIS/PUNE/TOKYO (May 12, 2008) – Mr. Rajiv Bajaj, Managing Director of Bajaj and Mr.
Carlos Ghosn, President and CEO of Renault and President and CEO of Nissan, today
announced they will form a joint-venture company to develop, produce and market the car in India code-named ULC with a wholesale price range starting from 2500 USD.
The new joint-venture company will be 50% owned by Bajaj Auto, 25% by Renault and 25% by Nissan.
Targeting the growing Indian new vehicle market, this ULC will be made at an all-new plant to be
constructed in Chakan (Maharashtra state) in India. Initial planned capacity will be 400,000 units
per year. Sales will start in early 2011 in India, as a primary market, with growth potential in other
emerging markets around the world.
The feasibility has already extended into Joint Product Development and the project is on line to
meet targeted performance & cost.
Source: Renault
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